FRAMINGHAM, MA — CCL Industries Inc., (OTC:CCDBF), a world leader in label and packaging solutions with corporate offices in Toronto Canada and Framingham, MA USA announced it has signed a binding agreement to acquire Desarrollo e Investigación S.A. de C.V. and Fuzetouch PTE LTD (collectively called “D&F”). a company is headquartered in San Luis Potosi, Mexico.
CCL previously acquired parts of Avery Dennison’s businesses in 2013. The Avery Dennison brand was formed as a 1990 merger of Avery, (who’s founder Ray Stanton “Stan” Avery invented the world’s first self-adhesive label), and Framingham based Dennison Manufacturing Company which, for much of the twentieth century was one of the town’s largest employers.
CCL’s newly announced D&F acquisition adds the leading supplier of graphic interface control panels and assemblies in the consumer electronics and medical markets in north America.
Closing is planned before the end of the year, the new business will then trade as CCL Design.
Geoffrey T. Martin, President and Chief Executive Officer of CCL Industries Inc., commented, “We are pleased to expand our highly successful CCL Design operations, adding important new capabilities: technical screen printing, printed electronics including design & assembly, adhesive & functional coating and in-mold decoration. We welcome the entire D&F team to the CCL Design global network.”
D&F’s assets include an equity interest in a related “maquiladora“, (which is a factory in Mexico run by a foreign company that exports its products to the foreign company’s country).
CCL Industries Inc. employs approximately 22,200 people operating 191 production facilities in 43 countries with corporate offices in Toronto, Canada, and Framingham, MA (USA). CCL operates as four reporting divisions; Avery, (labels and software), Checkpoint (RFID security labels/tags), Innovia (surface engineered films). and CCL Design, (design / manufacture packaging).
###